Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbersare presented where available. Of the federal expenditures presented in the Schedule, none were provided tosubrecipients. The School did not elect to use the 10% de minimis indirect cost rate allowed under theUniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.